AT&T

Fighting to defend its $81 billion takeover of Time Warner from a government challenge, AT&T is arguing the Trump Justice Department has failed to show that the merger will raise prices for pay-TV programming and for the consumers who watch it.

AT&T has completed its $81 billion takeover of Time Warner, one of the biggest media deals ever. A federal judge approved the combination just two days earlier over objections by the Trump Justice Department that it would hurt consumers.

A federal judge approved the $85 billion mega-merger of AT&T and Time Warner on Tuesday, potentially ushering in a wave of media consolidation while shaping how much consumers pay for streaming TV and movies.

U.S. District Judge Richard Leon green-lit the merger without imposing major...